Credit Acceptance (NASDAQ:CACC) Coverage Initiated by Analysts at Stephens

Stephens began coverage on shares of Credit Acceptance (NASDAQ:CACC) in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $452.00 price objective on the credit services provider’s stock.

CACC has been the subject of a number of other research reports. TD Cowen reduced their price objective on Credit Acceptance from $400.00 to $380.00 and set a “sell” rating for the company in a research report on Friday, November 1st. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

Credit Acceptance Stock Up 0.8 %

NASDAQ:CACC opened at $445.32 on Wednesday. Credit Acceptance has a 1-year low of $409.22 and a 1-year high of $616.66. The company has a market capitalization of $5.39 billion, a PE ratio of 29.91 and a beta of 1.42. The firm’s 50-day moving average price is $449.16 and its 200-day moving average price is $482.91. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63.

Credit Acceptance (NASDAQ:CACC) last announced its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $8.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.88 by $0.91. Credit Acceptance had a net margin of 9.08% and a return on equity of 29.18%. The business had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $548.13 million. During the same quarter in the prior year, the company earned $10.70 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Credit Acceptance will post 37.14 EPS for the current fiscal year.

Insider Activity at Credit Acceptance

In other Credit Acceptance news, insider Thomas W. Smith sold 1,200 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $451.01, for a total transaction of $541,212.00. Following the sale, the insider now directly owns 74,450 shares in the company, valued at approximately $33,577,694.50. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Diversified Trust Co bought a new stake in Credit Acceptance in the 2nd quarter worth about $618,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Credit Acceptance in the first quarter worth approximately $662,000. Russell Investments Group Ltd. raised its holdings in shares of Credit Acceptance by 821.9% during the first quarter. Russell Investments Group Ltd. now owns 3,282 shares of the credit services provider’s stock valued at $1,810,000 after purchasing an additional 2,926 shares during the last quarter. Renaissance Technologies LLC lifted its position in Credit Acceptance by 38.6% during the second quarter. Renaissance Technologies LLC now owns 7,900 shares of the credit services provider’s stock valued at $4,066,000 after purchasing an additional 2,200 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in Credit Acceptance in the first quarter worth approximately $6,830,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.

About Credit Acceptance

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.